Artisan Partners: Tech-Led Passive Managers May Benefit More From Energy Crisis Resolution

Artisan Partners (APAM) maintains significant exposure to non-consensus strategies, reducing sensitivity to US mega-cap and tech-led index movements. APAM's AUM grew over 10% with 8% revenue growth and 12% adjusted operating income growth, though March saw AUM growth slow amid market turmoil. APAM is less likely to benefit from a tech-led recovery tied to potential Iran War resolution, favoring passive asset managers over active ones like APAM.